Hello
everybody! Sure, I agree. Trading is very boring (successful trading) sometimes, but
understand this; Trading is a business not a funny activity. Maybe you can find
excitement times in a casino or in a horse competition. You risk money on both
although. As a newbie trader; many start to trade in small timeframes charts
like 30, 15, 10 and maybe 1 minute because they need action. Is really boring
wait for our entry in bigger timeframes than the small ones. Maybe you identify
a high probability entry in a daily chart on Eur/Usd, but you need to wait
around 7 or 10 days and evaluate if you put an order or you pass the trade, the
impatience ghost is calling to your door. And maybe you fail to wait for your
entry and executed the order in premature time. As traders we cannot know about
the future. I cannot know what happened in the future. I never predict the
market, because I can’t. I just identify opportunity with low risk and high
reward. I have a system to trade, and I make a plan to trade it… If my trade
fails I don’t care, because my system works in the long run. Loses are part of
the job. I love trade Harmonics because, I can calculate the risk to take and
if I wrong, my stop loss help me to protect my money. Is a really basic rule: “Never
trade without stop loss”
In the next
chart I show you a simple entry in a GBP/USD. I buy the pair around 1.5390… 4
hour chart. This trade take some time before works (or fail). Why I trade this?
Because I identify a bullish AB=CD Pattern (not draw here), and a Fibonacci level
88.6% And put my stop loss just below the previous lower low 1.5361. See the
cart below.
The trade can
works property… I don’t know. But the risk is good for me. Now taking that
entry I just manage the trade. First, I move my stop loss to break even. I ride on the free risk trade. That’s my first goal. We have a congestion zone around
1.5500 and this can be obstacle to obtain our target. I don’t know. I just
follow my plan and I close this position with a Stop loss or limit target.
And… now what? Wait my friend… I put my attention
at 1.5600 levels to sell the pair. That zone looks interesting for me. I’m not recommend sell to you (or buy). I just share some ideas with you. Remember: You are the only
responsible for your actions. I hope this was helpful. Have a great week.
